CNP has completed 61.8% (35c) up from L24 an H43. Today 35 hit double top with a black candle which shows sign of retreat. First, I though it will hit 78.6% level (38.5) but look like it cant. That is why when seller blocked heavily on sell side that I decided to get out @34c yesterday.
So, if it cant beat 35 in the coming days (I think it cant by look at sell/buy side) then a downtrend levels can be tested as follows:
Fibonacci Calculator
High: 35 Low: 24
Retracement
23.6% = 32
38.2% = 30.5
50.0% = 29.5
61.8% = 28
78.6% = 26
100.0% = 24
This is my view and guess by using chart/Fib only, can be right and WRONG. Plse DYOR and good luck
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